Russian aluminum producer Rusal has won a temporary reprieve from U.S. sanctions, subject to EN+ reducing its influence over the company. That step-back may reflect concerns about the aluminum supply-chain more broadly – also flagged by Norsk Hydro – though the company will still be subject to section 232 duties. The company appears to have been wrong-footed by the sanctions, introduced on April 6, as shown by U.S. seaborne imports that climbed 81% in April vs. March. It isn’t clear yet what the duty-status of those volumes will be however.
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